Credit card or microloan — what is better and more profitable?

Not news that credit products are gaining popularity. Currently, there is a large selection of proposals from financial organizations. Consumer loans, credit cards, mortgage lending, microloans, car loans, and many others. Each type of loan has its drawbacks and advantages.

Credit cards are issued exclusively in the bank. Microloans are issued in microfinance organizations. Their essence is the same — you receive money for a certain period, under certain interest.

Many consider it convenient to use. Now many banks have credit cards with a grace period. This means that you use the bank’s money, and before the expiration of a certain period, interest is not charged.

Immediately clarify that each bank has its own grace period. If you have a credit history, and it is not spoiled, then this is a big plus to the approval of a credit card.

If you don’t have a credit history at all, then you should not request a big amount — you will be denied for such an application. Or endorse a credit card with a small limit of up to 10,000 rubles.

We give as an example of the standard documents required for registration — a passport of a citizen of the Russian Federation, which has reached the age of 21, official employment, confirmation of your income (not in all banks asked to provide income).

The application itself is not difficult — it is possible to contact the Bank itself, to leave the questionnaire online or call the Bank’s hotline.

Before making an application, we recommend that you carefully examine several offers from different banks. You need to pay attention to the interest rate, the grace period.

The name itself suggests that these are small financial organizations.

Here get money is much easier than in the bank. No documents are necessary to collect, usually they are limited to the passport and the second document — SNILS, driver’s license, military ID.

The amount you can get will be at times less than in the bank. Usually, loans make up to 50 thousand rubles. But the interest rate of you is unlikely to please — 1% per day and this is the minimum rate. Accordingly, a year is 365%.

Currently, such organizations began to offer loans without percent. But, there are certain conditions. Basically, this is for new customers, in order to expand the client base. And the deadline for the return of funds does not exceed seven — ten days.

We hope that our material was useful to you.

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